Last time around we looked closely at what due diligence is. We agreed that taking a very close look at what you are about to buy is not only a good idea it’s a prudent one too.
But who is expected to carry out the due diligence process and what does it entail?
How do you know that the seller of a business is telling the truth?
How do you know if he has or he hasn’t “cooked the books”?
The simple answer is a not so simple phrase; due diligence.
Due diligence is the investigation that needs to be completed before buying a business. It is done to protect your [...]
The idea of buying your own business may sound like a good idea, and it can be.
An early question that you are going to have to answer is whether or not to use a professional business broker.
To help you with that decision here are some tips:
Are Franchises Guaranteed To Make Money?
Nothing in life is guaranteed except for taxes and death! Although the majority of franchisees are satisfied, successful business people, some do make a loss and go out of business.
So baring that in mind, you should be particularly wary of any company which guarantees profits or certain success.
If you [...]
1. Don’t Be A Square Peg In A Round Hole
Is running your own business right for you?
Starting a small business isn’t just about changing careers; it’s also about changing lifestyles and attitudes.
Before you start, it’s important to consider what kind of person you are, what your personal and career goals are.
Are you suited for the [...]
In part one we covered on the need to make sure that we have sufficient insurance cover in place.
Then we looked specifically at Assets & Revenue insurance and Liability cover options.
Today we are going to finish our two part review of Business Insurance by looking at People Insurance and Special Situations cover.
Business insurance is one of those compulsory expenses that we all begrudge paying, never want to have to call on, but would be plain foolish to be without.
A friend of mine, ironically a very successful insurance broker, had personal health insurance coverage up to his ears. The first year he delayed the renewal, he was [...]
Deciding when you need to hire a lawyer or attorney or not can be both a vexing question and an expensive one.
Sometimes it can be pretty obvious, imminent arrest or pending law suits tend to be a pretty good example!
But what about when the decision is not so clear cut?
This article is designed to give [...]
1. What Is Franchising?
Franchising is a method of distributing products or services.
At least two levels of people are involved in a franchise system: (1) the franchisor, who lends his trademark or trade name and a business system; and (2) the franchisee (that’s you!), who pays a royalty and often an initial fee for the right [...]
No matter what the reason that you need to find a lawyer or attorney for your business, once you need one it becomes vital that you choose wisely and carefully.
Here we take a look at five important areas that need to be covered in order to make that wise and careful choice. After reading this [...]
